Platinum outlook still bullish

Platinum prices slipped last week. The drop came as a five-month industry-wide strike in South Africa – which accounts for around two-thirds of global platinum production – ended with a new pay deal being agreed. But prices still look more likely to rise than to fall in the coming months.

For one thing, it will take at least three months to recover the lost ground, which amounted to around 20% of last year’s overall output. And the episode will hasten the long-awaited restructuring of the South African platinum industry, says Xan Rice in the Financial Times.

That implies plenty of [...]

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